This is meant to be the top-most part of a PaulMcCobb headboard set - here's what it should like with the actual headboard included. It's in rough shape and I'm pretty sure that Mr. McCobb didn't mean for his pieces to be described as "rustic" (as the seller calls it...). But it's cool nonetheless and I like the ad's suggestion of using it on a desk as an organizer. You could probably clean it up pretty easily.
Paul McCobb is a big name in Mid Century American furniture design - his Planner Group was among the best selling lines of modern furniture in its era, and collectors still pay hefty prices for his pieces. Check out Architonic for some examples of his work.